The Ok Tedi Mining Limited (OTML) copper-gold mine in Papua New Guinea is projected to remain operational for another century, according to Jerry Garry, Managing Director of the Mineral Resources Authority. Speaking at the conclusion of the Geoscience, Exploration, and Extraction Conference 2024 on Friday, Garry emphasized the significance of ongoing exploration efforts in the Western Province.
Garry informed Prime Minister James Marape that the recent exploration work has connected the Mt Ian intrusive complex to the north with the Ok Tedi complex. He described the accidental discovery of breccia and the scientific analysis suggesting a possible common source for these deposits over a 2 to 4-kilometer radius as “remarkable.”
Ok Tedi Mining Limited currently generates annual revenue of approximately US$1 billion (K3.9 billion) and an annual profit of about US$200 million (K786 million). During the conference, OTML’s Allan Ila highlighted the potential of deep-seated porphyry copper-gold intrusive stocks and skarn prospects in the Ok Tedi region.
OTML holds five exploration tenements, including Kauwol (Exploration License (EL) 1677), Townsville (EL 2156), Bubu (EL 2472), Anju (EL 2256), and Dorongo (EL 2289). The company also has a special mining lease that covers the Ok Tedi Mine as well as the Wellington and New York projects.
Ila discussed the New York project, noting its potential for underground mining with a deep gold-breccia system extending over 500 meters. He highlighted the high gold grades found at the bottom of the breccia pipe, indicating favorable conditions for deeper porphyry deposits.
The Wellington prospect was described by Ila as a significant gold-copper skarn and breccia system with potential for both open-cut and underground mining. OTML has designed a drilling program with four planned drill holes, each reaching a depth of 1,000 meters, to further explore these prospects.
“Our target is to potentially identify another breccia pipe or an intrusive stock at depth in Wellington,” Ila stated.
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